LAW 122 Lecture Notes - Condition Precedent, Rescission, Condition Subsequent
12 Dec 2012
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Discharged a contract is discharged when the parties are relived of the need to do anything more. Performance occurs when the parties fulfill all of the obligations contained in the contract. Time is not of the essence in most situations, it may be held liable for losses that the other party suffered as a result of the delay. Time is of the essence if the parties agree to that face, either expressly or impliedly. Legal tender is a payment of notes (bills) and coins to a certain value. Debt card is a plastic card that allows a person to debit, or withdraw, funds from a bank account. Credit card operates by allowing the cardholder to obtain credit, or a loan, for the purpose of paying for goods or services. Damages is the amount of money that the court may order the defendant to pay to the plaintiff.
